newstodate.aero

Dec 07, 2023 (newstodate): Iceland's Loftleidir, member of the Icelandair Group, has no reason to regret retreating from its earlier project targeting a stake in Azores Airlines.
   Citing the "political situation", the regional government has stopped the process of privatization of Azores Airlines that was otherwise again put up for a tender in January 2023, aiming at finding a bidder to take over the airline by the end of this year.
   In 2018, responding to an EOI issued by the Portuguese Grupo SATA, Loftleidir emerged as the sole qualified potential buyer for a 49 percent stake in Azores Airlines and was thus pre-qualified to participate in a coming tender for ownership in the Portuguese carrier.
   However, the tender process for privatization of Azores Airlines was later annulled with immediate effect; the Government of the Azores claimed that "serious damage" had been caused by a release of documents indicating that there was no formal proposal by Loftleidir, member of the Icelandair Group.   
   This was, however, contested by another source in the Transport Ministry, claiming that the Icelandair Group did indeed place a regular bid for the 49 percent of the shares in the Azores Airlines.
   Later, a second tender process was completed - with two contenders emerging to have placed identical bids, forcing the process to be suspended once again.....
   And neither of these contenders had any connection to Loftleidir that was also now fully out of its Cabo Verde-adventure, albeit only after deep legal disputes and rifts.